People can withdraw 2,000 cash at petrol pumps by swiping debit/ credit cards
Fuel retail outlets across the country have decided to tie- up with State Bank of India. People will be able to withdraw Rs. 2,000 cash at petrol pumps per day from November 18. The facility will start in 2,500 petrol pumps.
According to reports, the officials of state- run Indian Oil Corporation Ltd and Hindustan Petroleum Corporation had meeting SBI chairman Arundhati Bhattacharya on Thursday in this regard. And it was decided in the meeting that an amount upto 2, 000 per day per person in cash can be dispensed.
Notably, this cash could be dispensed against swiping of debit card from selected petrol pumps where POS machines of SBI are already available.
Pos are the machines which are generally used for debit or credit card transactions. The facility will started at around 2500 petrol pumps across the nation including rural areas, where SBI POS machines are available.
As per reports, the oil industry is in further discussions with SBI and banks to gradually extend this facility to 20, 000 petrol pumps. Also, it is important to note here that Petrol pumps will continue to accept old currency till November 24th.
Currently, India has become cashless economy as more and more people are using cards to buy necessary things. Now finally people will breathe sigh of relief as the currency ban has created havoc like situation in country. It seems that whole India is currently standing in the queue for exchanging their currency.
Prime Minister Narendra Modi announced demontisation on 8th of November and since then there is cash chaos in the country. All the opposition parties got together and attacked Modi government in the ongoing winter session of Parliament.
Mamta Banerjee and Arvind Kejriwal demanded that the government should take back its decision and they have even carried a rally too against the government. On the other hand, the government is not at all ready to take back their decision.